Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto

This paper investigates ethical aggregation of infinite utility streams by representable social welfare relations. We prove that the Hammond Equity postulate and other variations of it like the Pigou–Dalton transfer principle are incompatible with positive responsiveness to welfare improvements by every generation. The case of Hammond Equity for the Future is investigated too.

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Year of publication:	2012
Authors:	Alcantud, José Carlos R.
Published in:	Journal of Economic Theory. - Elsevier, ISSN 0022-0531. - Vol. 147.2012, 1, p. 353-363
Publisher:	Elsevier
Subject:	Social welfare function \| Equity \| Inequality aversion \| Pareto axiom \| Intergenerational justice

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Type of publication:	Article
Classification:	D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; D71 - Social Choice; Clubs; Committees; Associations ; D90 - Intertemporal Choice and Growth. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010582588